Talen Energy Supply, LLC Announces Closing of $400 Million Senior Secured Notes Offering

THE WOODLANDS, Texas, May 22, 2020 /PRNewswire/ -- Talen Energy Supply, LLC (the "Company" or "Talen Energy Supply") today announced the closing of its previously disclosed offering of $400 million in aggregate principal amount of 7.625% Senior Secured Notes due 2028 (the "Notes"). The net proceeds from the notes offering were used to repay all of the borrowings outstanding under the Company's revolving credit facility, to repay a portion of its senior secured term loan and to pay related transaction fees and expenses, and the remainder will be used for general corporate purposes, which may include repayment of additional indebtedness.

The Notes will not be registered under the United States Securities Act of 1933, as amended (the "Securities Act") and may not be offered or sold in the United States without registration under the Securities Act or pursuant to an applicable exemption from such registration requirements.

This announcement is for informational purposes only and does not constitute an offer to sell, or a solicitation of an offer to buy, any security and does not constitute an offer, solicitation or sale of any security in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the federal securities laws. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. The forward-looking statements in this press release are made as of the date hereof, and the Company does not undertake any obligation to update the forward-looking statements as a result of new information, future events or otherwise.

About Talen Energy Supply

Talen Energy Supply is one of the largest competitive power generation infrastructure companies in North America. The Company owns or controls approximately 14,000 megawatts of generating capacity in well-developed, structured wholesale U.S. power markets, principally in the Northeast, Mid-Atlantic and Texas.

Investor Contacts

Ryan Koren
Senior Manager, Investor Relations and Financial Planning & Analysis

Media Contact

Taryne Williams
Media & Community Relations Manager


SOURCE Talen Energy Supply, LLC